Shares continue to trade lower as banks lose ground and resources stocks continue to come under pressure from falling commodity prices ...
XJO off .43% XFJ off .18% XMJ off 1.47% XHJ up .88%
.....
Gold Drops for Fifth Day as Fed Set to End Bond-Buying Program
Gold dropped for a fifth day in the longest losing streak since August before Federal Reserve policy makers begin a two-day meeting at which they are expected to end a bond-buying program. Silver, platinum and palladium fell.
Bullion for immediate delivery lost as much as 0.3 percent to $1,222.62 an ounce, the lowest price since Oct. 15, and traded at $1,225.02 at 8:54 a.m. in Singapore, according to Bloomberg generic pricing. Bullion retreated 1.8 percent over the past four days. read more...
Brent Falls for Second Day as Goldman Reduces Forecast
Brent fell for a second day as Goldman Sachs Group Inc. joined other banks in lowering price forecasts. West Texas Intermediate was little changed.
Brent will average $85 a barrel in the first quarter, down from a previous projection of $100, Goldman analysts including Jeffrey Currie in New York said in a report yesterday. Banks including Barclays Plc, Bank of America Corp. and Citigroup Inc. have already reduced their estimates after both grades collapsed into a bear market amid rising global supplies.
U.S. Banks See Worst Outflow of Money in ETF Since 2009
The Financial Select Sector SPDR (XLF), an exchange-traded fund targeting banks and investment firms, had the biggest withdrawal last week since 2009 amid concern low interest rates and market gyrations will hurt profits.
Investors pulled $913.4 million from the $17.5 billion ETF, whose top holdings include Berkshire read more...
Hedge Funds Cut Coffee Bull Bets as Brazil Drought Eases
Hedge Fundspared back their biggest bullish coffee bet since 2008 as rains brought relief to drought-stricken growing areas in Brazil, the world’s biggest producer and exporter.read more...
Commodities Drop to Five-Year Low Led by Gasoline, Sugar
Commodities slumped to a five-year low led by gasoline and agriculture products grown in Brazil on speculation a slump in the country’s currency will fuel exports. read more...
Iraq Gets a White House as Kurdish Tycoon Builds Replica
Shihab N. Shihab reckons he’s going one better than U.S. President Barack Obama.
After admiring the White House in Washington for its “beauty and simplicity,” the Kurdish businessman is building a $20 million replica in the Iraqi city of Erbil replete with layers of Italian 21-carat gold leaf covering banisters and ceilings and Greek marble columns that grace the entrance. read more...
